Tesla Is Overhyped — Watch These Automakers Instead
Earlier this week, Tesla Inc. (Nasdaq: TSLA) reported strong fourth-quarter earnings.
You may feel tempted to buy shares now. But I would advise against it.
That’s because Tesla faces tough competition from automakers such as Ford and General Motors.
In today’s video, Steve Fernandez and I discuss how other companies could steal some of Tesla’s market share.
(If you’d prefer to read a transcript, click here.)
Editor, Strategic Fortunes
From open till noon Eastern time.
Provention Bio Inc. (Nasdaq: PRVB) develops and commercializes therapeutics and solutions to intercept and prevent immune-mediated diseases. It is up 22% after the company addressed the FDA’s concerns and readied its type-1 diabetes treatment candidate for resubmission after the initial rejection.
Clearfield Inc. (Nasdaq: CLFD) designs and manufactures fiber optic management, protection and delivery products for communications networks. It is up 16% after reporting Q1 results that beat analyst expectations thanks to growing demand for residential and commercial fiber connectivity.
Insulet Corp. (Nasdaq: PODD) develops and manufactures insulin delivery systems for people with insulin-dependent diabetes. The stock is up 15% on the announcement that it has received clearance from the FDA for its Omnipod 5, an automated insulin delivery system for individuals with type-1 diabetes.
Affirm Holdings Inc. (Nasdaq: AFRM), the buy-now-pay-later solutions company, is up 14% this morning. The move came after analysts at DA Davidson upgraded the stock from a neutral to a buy rating.
Fair Isaac Corp. (NYSE: FICO) develops analytics, software and data management products and services that enable businesses to automate and enhance decisions. It is up 12% after beating both earnings and revenue estimates for Q1 thanks to growth in its Software and Scores segments.
Atlassian Corp. Plc (Nasdaq: TEAM) designs and develops various workplace management software products worldwide. The stock is up 12% after beating Q2 earnings expectations due to strong growth in customer acquisitions and subscription revenues.
Braskem S.A. (NYSE: BAK) is a Brazilian petrochemical producer that is up 11% this morning. The move came after its parent companies canceled the sale of their stakes in Braskem because of market volatility.
Novavax Inc. (Nasdaq: NVAX) develops vaccines to prevent serious infectious diseases. It is up 11% after announcing an advance purchase agreement with the Israeli Ministry of Health for 5 million doses of its COVID-19 vaccine.
Bed Bath & Beyond Inc. (Nasdaq: BBBY), the retail chain operator, is up 13% as part of a rebound from Thursday. The initial drop was due to Moody’s cutting its corporate credit rating to B1 from Ba3 following a Q3 report of widening losses.
ChargePoint Holdings Inc. (NYSE: CHPT) provides electric vehicle charging networks and charging solutions in the U.S. The stock is up 9% after JPMorgan Chase upgraded its rating on the stock, citing increased confidence in the electric-vehicle charging industry.
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.